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Non-profit research and development organization fostering dialogue on global issues that are reshaping world markets —with a pan-African perspective.
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Mr. Pierre Pyun, Vice President, Bombardier Inc.
Retired Maj.-Gen. David Fraser, COO INKAS Armored Vehicle Manufacturing
His Excellency, Riadh Essid, Ambassador of Tunisia in Canada
A cross-section of participants at a recent GEIA event
GEIA is pleased to announce the recipient of the 2016 GEIA-CPCS Fellowship: Dr. Sue Claire Berning. A German citizen, Dr. Berning completed her Ph.D. in International Management in 2016 from the Friedrich-Alexander University of Erlangen-Nürnberg in Germany. She holds two Master’s degrees: Social Management from the Lutheran University, Nürnberg (Germany) and International Business & Communication in Asia / China from the University of Applied Sciences, Konstanz (Germany). GEIA Fellows have opportunities for international research collaborations and professional career development. The Corporate Sponsor of the 2016 GEIA Fellowship is CPCS Transcom Limited. The host organization is the Nigerian Economic Summit Group. The Fellow receives a lump-sum Fellowship Award valued at two thousand Canadian dollars ($2,000.00) and a round-trip flight ticket from country of residence to Lagos. In addition, the Fellowship covers accommodation, local transportation to and from work, one meal per day, and a guaranteed monthly base salary of one hundred and fifty thousand naira (NGN 150,000.00). In a statement by the President/Chief Economist of GEIA, Dr. Fred Olayele, “This is a prestigious award conferred by the Institute, and Dr. Sue Claire Berning is to be congratulated for having a strong academic record that merits this honour". Click here for full press release: http://www.econinstitute.org/press-releases
Now that the naira has been set free to float, what is next? How does Nigeria move from austerity to stimulus? How does its expansionary fiscal policy translate into jobs for the jobless graduates on the streets of Ibadan, Kano, Enugu and Yenagoa? It is no longer news that Nigeria has all its eggs in a single basket and needs to diversify beyond its resource base. The far-reaching effects of the crash in oil prices have changed the trajectory of Nigeria’s national economic policy debate. We have seen some of the signs of government’s market-distorting response and poor policy coordination: fiscal imbalance, weak currency, delayed civil-service salaries, Shanghai-type stock market circuit-breaker mechanism, suspended capital projects and layoffs. Access full article here:http://www.econinstitute.org/expert-commentaries-2
AFRICA’S ENERGY INFRASTRUCTURE DEVELOPMENT requires significant financing, in addition to strengthening of the delivery architecture. Energy access remains a decisive problem in many Sub-Saharan African countries. Decades of international involvement, through various approaches, have not succeeded in making significant improvements. This article presents traditional financing approaches and analyzes the problem they face. In particular, the imbalance of power and interest between non-African and African players is highlighted. New models are then reviewed, pointing to some key changes to adopt in energy projects: smaller project size, local control over financing sources, innovative financing schemes, and increased private and African ownership. Click here to access the full paper: http://www.econinstitute.org/wp-content/uploads/2016/05/Electricity-Financing_proof1-3.pdf
The US State Department has expressed discomfort over a proposed causeway linking Yemen and Djibouti, citing instability in both Yemen and Somalia as being problematic. However, Somali pirates sailing in small boats have regularly intercepted ships far offshore, suggesting that they already have transportation across the Strait of Bab-el-Mandeb. Access full article here:http://www.econinstitute.org/expert-commentaries-2
The politics and economics of dual citizenship remain a contentious issue, especially within the context of globalization. Dr. Roland Pongou and Dr. Julius Oloufade argue that dual citizenship recognition generates huge economic gains for countries and improves household welfare. Access full paper here: http://www.econinstitute.org/wp-content/uploads/2016/05/Dual-Citizenship_proof2.pdf
GEIA Stakeholders Retreat! GEIA recently held an interactive event to engage stakeholders in discussions around the Institute’s future work.
GEIA President/Chief Economist, Dr. Fred Olayele, at a recent event hosted by the Canada-Africa Chamber of Business in Toronto to welcome His Excellency Demeke Mekonnen, Deputy Prime Minister, The Federal Democratic Republic of Ethiopia. His Excellency led a trade and investment delegation of 45 leading Ethiopian companies seeking Canadian importers and distributors for their products, joint venture partners, investors and suppliers for various projects in Ethiopia. Major sectors covered included coffee, spices and oilseeds (sesame, sunflower, etc.), commercial farming, construction, building materials and heavy equipment, manufacturing, mining, tourism and hotel infrastructure. #Ethiopiaontherise
Ainos Ngadya, Senior Partner & CEO with ANF Capital Partners Inc. explains ANF’s renewable energy and infrastructure projects in Zambia and Zimbabwe. He says the investment climate is great, incentives for investors are commendable and prospects are quite strong. Similar to Zambia, Zimbabwe presents the most upside potential in the region. Zimbabwe, according to him, has local citizenship participation laws that need to be understood by investors. He advises that a deep understanding of the African business culture, including labor culture must be priced in on all projects and deals. Mr. Ngadya also comments on why hiring African skillsets in Diaspora is quite strategic since they generally understand both worlds. He concludes that the business risk is there, but most is just “perceived risk”. Read full interview here: http://www.econinstitute.org/wp-content/uploads/2016/04/EXECUTIVE-INTERVIEW_AINOS.pdf
GEIA has two Graduate Fellowship opportunities available! The GEIA Graduate Fellowship Program (GGFP) pairs recent graduates or exceptional students in Master’s and PhD programs from reputable universities with chief/senior executives and leaders of top-performing public, private and non-profit organizations in Africa. The goal of the GGFP is to help African countries in policy development and capacity building. Fellowships can last from four (4) months to one (1) year depending on the mutual interest of the Fellow and the host organization, as well as the availability of an assigned chief/senior executive. The GGFP offers interesting research opportunities; participants work on a wide variety of business and public policy issues. Africans and non-Africans are eligible, but their university must not be domiciled in any of the 54 African countries. Click here to apply: http://www.econinstitute.org/fellowships
In this interview with Ako Ufodike, President, Kainji Resources, he explains that when he relocated to Canada nearly 20 years ago, it was on the back of a strong desire to apply himself within a more stable and structured environment. A failing business in Africa at the time added to his resolve and taught him many lessons he still applies to this day. At the time, he always thought that at some point, he would go back to explore the opportunities. Mr. Ufodike kept abreast of African news, and its markets, and tried to visit at least once every couple of years. The changing African narrative, perhaps over the last decade or so, reinforced his desire to apply himself in a way that can help develop the region in a meaningful way. Currently busy with Kainji Refinery, a greenfield modular refinery project based in West Africa, he says when completed, it will refine 24,000 barrels of crude oil a day. What’s more? Its product is primarily for local consumption. Kainji has attained a formal approval to construct license from the government of the country they are operating in and are currently wrapping up fund raising. They expect to start construction in the first half of 2017. Read full interview: http://www.econinstitute.org/wp-content/uploads/2016/04/EXECUTIVE-INTERVIEW_AKO.pdf
Corruption remains the bane of good governance and development in Africa. Dr. Jacob Musila and Dr. Simon Sigue´ show that corruption adversely affects international trade. Their analysis is premised on the belief that as far as international trade is concerned, corruption in the exporting country is as important a factor as corruption in the importing country. The level of corruption in both countries, they say, would determine the cost of doing business between the two countries. The significance of this study is obvious; it addresses one of the key challenges of economic development in Africa. Click here to access a non-technical version of the report:http://www.econinstitute.org/wp-content/uploads/2016/05/CorruptionInternationalTrade_final.pdf
Watch a recent GEIA video highlighting our work at the Institute here: https://vimeo.com/156725296
GEIA's Head of International Projects and Marketing, Alex Pun, in Munich, Germany.
A cross-section of panelists
Panelists at GEIA's Entrepreneurship and Economic Development Summit in Ottawa
GEIA's Head of Information Technology, Mr. Joel Kepaou, drives home a point at a recent GEIA event.
Mr. Peter Zakreski, Chairman, Global Economic Institute for Africa
Her Excellency, Ambassador Jane Onsongo, Deputy Head of Mission, Kenya, at a GEIA event.
A group picture of panelists and GEIA officials
Participants at a GEIA session
Participants at a GEIA session